Examlex
Targeted franchising is a form of licensing in which franchisees in the targeted countries are allowed to use the franchisor's name in exchange for a percentage of the gross profits.
Taxpaying Entity
An individual, a company, or an organization that is legally obligated to pay taxes to a governmental authority.
Option of Partners
The right or ability within a partnership to make decisions or select alternatives regarding the business's operation or structure.
General Partner
In a limited partnership, a partner who assumes responsibility for the management of the partnership and has full liability for all partnership debts.
Limited Partnership
A business structure where at least one partner has unlimited liability and one or more partners have limited liability, limiting their personal risk.
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